WE WILL BE TAKING A BREAK! OUR OFFICES WILL BE CLOSED THE WEEK OF JULY 5TH. WE WILL BE CHECKING OUR EMAILS ONLY
DEALERS ARE GOING CRAZY
Chances are your local (and national dealers) are sick from the lack of coins (equivalent to oxygen). We’ve heard of some traveling to the smallest shows seeking even a single coin. Our “super secret stealth seller” sold $150,000.00 at a tiny show this past weekend. That is incredible. Demand is that strong (but not in all areas so we are not yet in a full fledged BULL market). However since the lull in 2016-2018 and 2020 an enormous amount of new buyers came in and enlarged what we see as a deep black hole. No more are coins bought by dealers then passed around. Its more like one and done. Aiding this was 15 months of no major shows with the market forced into auctions. Very few coins are available to trade.
Its complicated about prices going up. Depends on the coin, the quality, and its eye appeal. A plus is a CAC bean. Gradeflation left such a nasty wound that it is typical to see a NON CAC NGC coin selling for 50% or more LESS. That does not mean the market is not strong for a true quality coin. At this point in time ALL the prices guides are behind (we know PCGS now has a team of 3 ex dealers working hard to keep up on the prices). The coin market is much better as a whole today then it was only a year ago. The severe drought of coins is starting to have negative effects on dealers (including Legend). We can only hope coins start to come out and trading returns.
Our expectations for Summer FUN are that we have a nice easy trip. The only thing we do expect is a huge crowd to attend. We do NOT expect there to be many coins for sale-unless the public brings in coins to sell. Even Heritage has a way smaller then normal auction. We think it will take until January FUN for dealers to have decent inventories again. Legends inventory is at the lowest level in 15 years!
We warn all our customers: in this market for TRUE QUALITY and true rare coins, you MUST set up and pay the price. Many times, your BEST deals are from dealers (assuming they have coins). Auctions are competitive end user forums. Regardless, with such a drought of material, coins will be costing you more for the next few months for sure.
Note: a 50C 1946 PCGS MS68 CAC sold for $149,062.50 in an internet only auction 6/27! Crazy!
LEGEND WILL BE AT THE LEGEND AUCTIONS TABLE AT FUN ON THURSDAY ONLY.
ARE YOU THINKING OF SELLING?
NOW IS THE TIME TO SELL. Too many collectors wait until AFTER the market has slowed. Sell today and you are selling into a rising market. If you worried about missing the peak, no one knows if the strength will last months or a few years. At least you sold on the upside. There are far more buyers then sellers in most areas. Most prices are back beyond 2015 levels (especially in better gold).
We do suggest if you have dupes sell them now. This way you won’t be rejected or spanked on a trade if a “cash” coin pops up you need to buy (cash meaning any one would write a check).
Legend is an aggressive buyer of ANYTHING pretty much right now. We offer 3 ways to sell: consignment, out right purchase, and auction. Call or email to discuss.
NEWPS
Yet again we have a small group of top flight NEWPS. Highlights include:
10C 1802 PCGS MS62 CAC POSSIBLY THE FINEST
10C 1803 PCGS MS64 CAC BAREFORD/LOVEJOY/POGUE THE SOLE FINEST
$5 1868-S PCGS MS62 CAC THE SOLE FINEST GRADED
We are still out there hunting as hard as we can for every day coins (below $10,000.00). OFFER US COINS!
LEGEND RARE COIN AUCTIONS
www.legendauctions.com
Our Regency Auction #46 is going LIVE Friday 6/25! We have already seen record eye balls checking it out-and you know that means. This sale has many exceptional QUALITY coins for sale (lots of “nuggets” as we say).
Stay tuned as we have TWO HUGE announcements for our September sale! You will want to participate either buy consigning or buying!
Have coins to consign? have questions about the current Sale? Call or email the best team in auctions: 732-935-1168. They will craft the ultimate plan if you want to sell.
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US: legend@legendcoin.com. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY
